The Bitcoin halving is an important event for miners and investors alike. The event is scheduled to occur once every 210,000 blocks have been added to the blockchain. As we will see later, the event takes place approximately every four years and is inherently a part of Bitcoin’s distribution schedule.
On the day of the halving, the miners’ block rewards for mining Bitcoins are split in half, which means they receive 50% fewer Bitcoin for their work. Later, we will dive into questions such as why miners continue to mine Bitcoin if their reward to mine is cut in half every four years and who will continue to mine after all the Bitcoins in existence have already been generated.
From the investors’ perspective, the halving event implicates that the number of Bitcoins generated between each halving event is also split in half. The fact that fewer Bitcoins are being mined after each event and the fact that the supply of Bitcoin is finite gives Bitcoin its deflationary characteristics.
The Bitcoin halving has been widely linked to one of the driving factors behind previous Bitcoin bull runs. We will analyze the past performance of Bitcoin before and after each halving event, discussing the effects of such events on Bitcoin’s price.
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